The Indian Hotels Company Limited (IHCL) announces its first Taj property in Saudi Arabia
April 18, 2018

In a major milestone, The Indian Hotels Company Limited (IHCL) the leading hospitality company in South Asia, today announced its foray into the Holy City of Makkah, Saudi Arabia, opening a Taj Hotel in partnership with Umm Al Qura Development and Construction Company in the prestigious King Abdul Aziz Road (KAAR) project, one of the largest urban rejuvenation projects in the city of Makkah.

The"...

Dirty water threatens residents of Al-Samer
April 18, 2018

Several Al-Samer residents have complained about stagnant dirty pool of water that can be seen in different areas of the neighborhood, which is located east of Al-Haramain Road. The residents are extremely worried that they get infected with dengue fever as result of the stagnant pools of water that have become a breeding ground for mosquitoes.

Some residents blamed the sewage network and the derelict state of street infrastructure while others said"...

Saudi Building Code mandatory for large projects
April 16, 2018

The head of the National Committee for the Saudi Building Code Dr. Saad Al-Qasabi said that the code will be applied to buildings including designs that begin with the reports of the spatial elevation issued by the municipalities in July 2018, Makkah daily newspaper reported.

He said that application is mandatory for large engineering projects and will begin on Jan. 1, 2019. He noted that compulsory application for small residential buildings will start"...

Exclusive Group Secures Major Investment to Fuel Growth Strategy
April 13, 2018

(AETOS Wire)-- Exclusive Group, the value-added services and technologies (VAST) group, announced significant new investment from funds advised by global private equity firm Permira to take a majority stake in the business. The transaction secures substantial funding and resources to fuel the next stage in Exclusive Group’s development and hyper-growth, with the existing management team, led by CEO Olivier Breittmayer, further"...

Al Saja’a Industrial Oasis Wins Arabian Business Real Estate Award
April 10, 2018

Al Saja’a Industrial Oasis (ASIO) has been honoured with the ‘Best Industrial Project’ award at the Arabian Business Real Estate Awards.

Sharjah Asset Management (SAM), the investment arm of the Government of Sharjah, launched ASIO in October 2015 following the vision of the emirate to create a strong and diversified economy, to further boost the competitiveness and prosperity"...

Ten Teams from Five Countries Advance to Finals of $20M NRG COSIA Carbon XPRIZE
April 10, 2018

(AETOS Wire)-- XPRIZE, the world’s leader in designing and managing incentive competitions to solve humanity’s grand challenges, today announced the 10 teams advancing to the final round in the $20M NRG COSIA Carbon XPRIZE. This four-and-a-half-year global competition challenges teams to transform the way the world addresses carbon dioxide (CO2) emissions through breakthrough circular carbon technologies that convert carbon dioxide emissions from power plants into valuable products. The 10 finalists, each taking home an equal share of a $5 million milestone prize, were revealed today at Bloomberg New Energy Finance’s Future of Energy Summit in New York City. Ranging from carbon capture entrepreneurs and start-ups to academic institutions and companies that have been tackling the challenge......

Mega marine canal project along Saudi-Qatari border on cards
April 7, 2018

AN integrated project for excavating a marine canal along the borders with Qatar is set to be carried out with investments by a consortium of nine Saudi companies in this field. The project is awaiting official approval and licensing to begin execution, which will be completed within 12 months only, according to Sabq online newspaper, which said it had knowledge of the integrated tourism project.

The"...

Top firms in the race for Bahrain residential projects
April 4, 2018

More than 56 Bahraini and Saudi companies are in the race for two major residential projects in the Wadi Al Sail and Galali areas of the kingdom which are being built for the benefit of BDF affiliates.

Bahrain's Ministry of Housing has opened pre-qualification documents for the construction for these two projects, which are being funded by the Saudi government.

The foundation"...

Saudi Arabia’s first housing forum explores opportunities for real estate
April 4, 2018

Wafiqs 2018, the first Saudi forum on sales of housing projects has explored opportunities for buyers and real estate developers, as well as introduced licensed projects and the options they give to those who want to buy early, before or during the project implementation phase.

The maiden forum, which concluded on Saturday, was inaugurated by Minister of Housing Majid Al-Hogail at Crowne"...

Saudi Real Estate Refinance Company injects another SR1 billion into Saudi housing finance market
March 28, 2018

The state-owned Saudi Real Estate Refinance Company (SRC) continued its mission of supporting the consumer mortgage market with the injection of SR1 billion ($266 million) funding from Amlak International.
It is SRC’s third SR1 billion transaction and demonstrates its growing role as a catalyst for the Saudi housing market. The agreement announced on Tuesday was SRC’s first refinancing deal of 2018. It includes portfolio acquisition and a short-term"...